After rallying to its ATH in 2021, Shiba Inu has long been a favorite in the meme coin market. However, recent price actions and bearish outlooks have made experts warn intending investors to stay clear of the SHIB right now. Instead, they advise investing in two alternatives, Rexas Finance and Bonk. Let’s look at three reasons why buying Shiba Inu might not be the best action right now.
Three Reasons To Steer Clear Purchasing SHIB Right Now
- Stagnant Shibarium Adoption
Shibarium adoption has stalled following a first increase motivated by a Fed rate cut. Data from Shibariumscan indicates a loss of momentum with a notable decrease in the daily transactions and new account count since September 19.Shiba Inu’s future expansion is threatened by this declining user interaction. Any blockchain ecosystem needs constant user adoption and utility if it is to flourish. Although Shibarium was intended to provide the Shiba Inu ecosystem with more scalability and reduced transaction costs, its present performance points to difficulties in fulfilling expectations. This inertia could cause demand for SHIB to drop, influencing future price dips.
- Declining Trading Volume
Shiba Inu’s declining trading volume adds another red flag for potential investors. With volume falling to $197.4 million, SHIB has seen a 4.93% decline in trading activity over the past 24 hours. Usually indicating declining interest from traders, a drop in trading volume may indicate that the asset is losing appeal.
A coin’s liquidity and investor attitude are much revealed by trading volume. The reduced volume makes it more difficult for the price to move noticeably, which can cause price stagnation or perhaps declines. Regarding Shiba Inu, the recent decline in volume points to the fading of the bullish mood it experienced in 2021 and the less likelihood of a significant price surge in the near term.
- Bearish Price Trends
The bearish price patterns shown on Shiba Inu’s chart are the third reason one should avoid purchasing the dog right now. Shiba Inu has hit resistance and is now battling to maintain important support levels even though it retained a 7.91% increase over the past week. Recently touching the $0.000016 resistance level, the SHIB/USDT combo fell short and now struggles to keep support at $0.0000145.Should SHIB close below this key support, additional selling pressure may be triggered, driving the price even lower. Although the general trend seems to be positive in the long term, the current outlook points to a possible short-term drop; hence, right now, any investment in SHIB is dangerous. Investors may wish to look at other choices with better short-term prospects even if there is no apparent breakout in sight and momentum is slowing down.
Rexas Finance (RXS): An Attractive SHIB Substitute
Rexas Finance offers a substantial opportunity for anyone wishing to divest from Shiba Inu. Designed to tokenize real-world assets like real estate and commodities, Rexas Finance is a blockchain platform. Rexas Finance is positioned for future growth given its pragmatic use case and increasing market for tokenized assets.Token Builder for simple asset tokenization, decentralized finance (DeFi) tools for trading and earning interest, and a decentralized launchpad for safe token sales are just a few of the platform’s creative tools. Furthermore, Rexas Finance’s use of artificial intelligence tools such as GenAI adds another layer of value since it enables artists to create excellent digital artwork for NFTs.Rexas Finance has shown great investor demand based on over $1.6 million already raised in its presale. Currently valued at $0.05, the token has excellent growth potential; once the presale ends, its listing price is expected to be $0.20. Rexas Finance is a good substitute for Shiba Inu for investors seeking a project with actual use and strong development potential.
Bonk (BONK): The First Meme Token ETP
Bonk Inu (BONK), which has been in the news with its intentions to introduce the first-ever meme token exchange-traded product (ETP) in the United States, is another great substitute for Shiba Inu. Declared at the Solana Breakpoint event, Bonk’s future ETP has created a lot of buzz among investors, given estimates of a possible 200% price increase for the token.
With the BONK/USDT pair bouncing off a pivotal support level, Bonk’s most recent price action has been positive. Now trading above the mean of the Bollinger Band, the token shows a growing optimistic attitude. For those looking for high-risk, high-reward investments, Bonk is also a good choice since technical indicators like the MACD and OI-weighted funding rates point to increasing purchasing momentum.Offering a unique chance for investors wishing to profit from the next major trend, Bonk is positioning itself as a leader in the meme coin space, with its ETP launch expected at the end of the year.
Conclusion
Though Shiba Inu is still a popular meme coin, its recent issues with Shibarium acceptance, declining trading volume, and bearish price patterns make it a dangerous investment right now. Rexas Finance and Bonk present exciting prospects for those seeking alternatives based on real-world use cases and great development potential. These two tokens should be taken into consideration by investors trying to make a 1500% ROI soon.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Win $1 Million Giveaway: https://bit.ly/Rexas1M
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
